Iran is currently recovering 95,000 barrels of crude oil per day from Yadavaran oil field of which 75,000 bpd is light crude oil.
Operated of the field’s development project, Hadi Nazarpour told Shana that the field’s first phase development was being carried out for production of 85,000 bpd while in practice its output exceeds 95,000 bpd.
He said the second phase’s master development plan (MDP) has been finalized and legal talks are under way with Chinese developers for fulfillment of the project.
The return on investment and duration of the project are the main topic of discussion with Chinese developers, he added.
The field’s output will reach 300,000 bpd after development.
The oil reserves in place in Yadavaran oil field, jointly operated by Iran and Iraq, are estimated to be more than 34 billion barrels.